Hyderabad, April 18: The Indo US trade deal may hurt small businesses and industries, Hyderabad District Congress Committee president Syed Khalid Saifullah said on Saturday.
He criticised the agreement while addressing a Maha Dharna organised by the Indian Youth Congress at Indira Park. He warned that rising imports from the United States could pressure domestic markets.
According to Saifullah, imports from the US were around 50 billion dollars earlier. However, they may now rise to nearly 500 billion dollars under the new arrangement.
Indo US Trade Deal Raises Concerns for Industries
He expressed concern over the impact on small and medium enterprises. Many of these firms supply components to public sector units like Bharat Heavy Electricals Limited. He said cheaper imports could affect their survival and jobs.
He added that earlier governments maintained higher import duties to protect industries. Duties ranged up to 37 percent on several goods and even 100 percent on some agricultural products. Now, he said, duties have been reduced significantly, and in some cases brought down to zero.
Saifullah referred to remarks by Donald Trump, who had earlier called India a tariff king. He said the current policy shift makes it easier for American goods to enter India.
He also raised concerns over the lack of parliamentary debate on the agreement. He said the deal was finalised without discussion, which raises questions on transparency.
Saifullah alleged that the policy could harm domestic industries. He urged workers and citizens to oppose the deal and seek safeguards.
Leaders and workers of the Youth Congress who joined the protest echoed similar concerns. They demanded a review of the agreement and protection for local industries.
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